Call or drop by now to schedule an appointment!  Our business hours are Monday - Thursday 9AM - 5PM.     Trust your taxes to the team at EGGETT TAX SERVICES! Appointments available Monday - Thursday 9a.m-5p.m, call our office to book a time. Walk-ins also welcome!        Scrambling to catch up on prior year tax returns...let us help!! EGGETT TAX SERVICES specializes in multi-year and late filing situations.  Call us for an appointment or quote today. 
261 Frederick St. Kitchener, ON N2H 2N2

Tax Related News by Eggett Tax Services

Tax Myths

RESP’S

  • Registered Educational Savings Plans are not a tax planning tool.
  • They can increase tax payments upon withdrawal for both the child and the contributor. The investment aspect can also be in question.

TFSA

  • Tax Free Savings Accounts can save you a very small amount of taxes now but cost you much more in tax savings in other areas.

INCORPORATING

  • It is important that you are incorporating is for the right reason.
  • Incorporating may prove to be an expensive situation to get into and out of later with little or no tax savings.

RENTAL INCOME

  • Rental income is a long term investment which may lead to greater tax savings later. It is not a vehicle to produce expenses to create an immediate tax advantage now.

SELF EMPLOYMENT

  • The purpose of self employment is to create income. Self employment to create a loss may lead to difficulties in the future.

CANADA REVENUE AGENCY

  • The information provided by the Canada Revenue Agency for the majority of questions may be correct. A recent survey shows that 25% of the answers on the telephone are incorrect.
  • The basic problem is they do not either understand the question nor know the whole story.

TAX SOFTWARE

  • Tax software is only a tool for tax preparation not unlike a hammer in building a house. Proper tax preparation requires a plan to save tax dollars. A tax plan requires an architect to build a firm foundation.
  • Tax preparation software provides no accountability or recourse other than the Canadian Revenue Agency